Mexico is seeking Japanese cooperation to try...
Mexico is seeking Japanese cooperation to try to reduce its $100-billion foreign debt, according to Japanese Foreign Affairs Minister Sosuke Uno.
Uno said President Miguel de la Madrid proposed Japanese involvement through the International Monetary Fund and World Bank in plans to cut the Mexican debt.
“Japan is going to seriously consider the Mexican proposals and ideas,” Uno said.
He said Mexican debt-reduction plans to exchange Mexican bonds for discounted foreign debt were “intelligent” measures but faced various problems including how to guarantee interest payments on the bonds.
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